A Purdue University official said the school has made fast progress finding $40 million in savings or new revenue to support a two-year tuition freeze announced in March.

Purdue treasurer Al Diaz told the Journal & Courier that the school is nearly three-quarters of the way to reaching that $40 million goal.

He said that included $5 million in new revenue, $7 million in savings through a 1 percent merit raise wage pool, and millions more in other cost-cutting measures. Diaz said the university still needed to have a plan in place by July.

Purdue President Mitch Daniels announced the tuition freeze plan in March. It covers only the main campus and will keep basic in-state tuition at about $10,000 a year.